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ch4 - Exam Name MULTIPLECHOICE. 1 Theconsumerswork...

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Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The consumer ʹ s work - leisure choice problem focuses on how a consumer ʹ s work - leisure decision is affected by the consumer ʹ s A) Preferences and psychology. B) productivity and psychology. C) preferences and productivity. D) psychology and preferences. E) preferences and constraints. 1) 2) In macroeconomic analysis, the representative consumer 2) 3) We assume that the representative consumer ʹ s preferences exhibit the properties that 3) 4) ʺ More is always preferred to less ʺ refers to 4) 5) We assume that the representative consumer ʹ s preferences exhibit the properties that A) they be convex and that more is always preferred to less. B) each consumer has one strictly preferred good and that consumption and leisure are both normal goods. C) more is always preferred to less and that consumers do not like diversity in his or her consumption bundle. D) more is always preferred to less and that each consumer has one strictly favorite good. E) that consumption and leisure are both normal goods and that the consumer likes diversity in his or her consumption bundle. 5) 1
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6) We typically assume that 6)
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